Avanci Announces New Patent License Agreement with Volvo Cars

6 months ago

Volvo Cars Becomes a Licensee of the Avanci Marketplace, Obtaining a License to Essential Patented Technology for Connected Cars

DALLAS–(BUSINESS WIRE)–Today, Avanci announced that it has signed a patent license agreement with Volvo Cars, increasing the total number of auto brands licensed through the Avanci marketplace to 14. By signing an agreement with Avanci, Volvo Cars receives licenses to the 2G, 3G, and 4G essential patents of the 36 patent owners that participate in the marketplace today, as well as patent owners that join Avanci in the future.

“We are very pleased to have Volvo Cars, one of the most well-known and respected car brands in the world and a leader in connectivity, as a licensee,” said Kasim Alfalahi, founder and chief executive officer of Avanci. “This agreement continues a very successful 2019 for Avanci, a year in which overall participation in our licensing marketplace has doubled. The simplicity, efficiency, and predictability of our one-stop solution increases substantially with every new participant, allowing licensees and patent owners to broadly share technology of today and continue developing the technology of the future.”

Avanci’s one-stop marketplace simplifies the way automotive companies provide connectivity by including license rights to the vast majority of cellular standard essential patents in a single agreement. By streamlining the process, Avanci is accelerating the growth of the Internet of Things by providing manufacturers of IoT products with an efficient and transparent way to access the wireless technology needed to bring their products and services to customers worldwide.

About Avanci

Avanci has a vision that sharing technology, on a broad scale for the Internet of Things industry, can be simpler. Our connected world is evolving quickly – and we want to help it all happen even faster. Our one-stop solution keeps the success of the ecosystem squarely in sight, bringing convenience and predictability to the technology licensing process. In our marketplace, those with essential patents can share their innovations, and companies creating connected products for the Internet of Things can access the patented wireless technology they need to be successful – in one place, with one agreement and for one fair, flat rate. Founded in 2016, Avanci is headquartered in Dallas. For more information about Avanci, please visit http://www.avanci.com.